Karnataka has registered increase of 18% M-o-M in its monthly iron ore sales via e-auction in Nov’17. In Nov’17, total iron ore allotted quantity to 2.38 MnT compared to 2.02 MnT in Oct’17.
NMDC iron ore sales increased sharply by 46% in Nov’17- NMDC’s iron ore sales at e-auctions were up 46% M-o-M to 1.15 MnT in Nov’17 compared to 0.79 MnT in Oct’17. NMDC Kumarswamy mines increased it sales significantly via auction by more than double to 0.63 MnT in Nov’17 compared to 0.27 MnT in Oct’17 while sales from NMDC Donimalai fell marginally 1% to 0.516 MnT in Nov’17 compared to 0.52 MnT in Oct’17.
JSW Steel Sourcing from Karnataka up 18% –JSW Steel’s iron ore purchases from Karnataka e-auctions stood at 1.73 MnT in Nov’17 up 18% M-o-M compared to 1.46 MnT in Oct’17. Out of 1.73, MnT, NMDC supplied 0.93 MnT iron ore via e- auction in Nov’17.
Buyer-wise allotted quantity in Nov’17 E-auctions
| Company | Fines | Lumps | Grand Total |
| JSW Steel Ltd | 1,340,000 | 388,000 | 1,728,000 |
| BMM Ispat | 136,000 | 4,000 | 140,000 |
| Srikalah Asthi Pipes ltd | 20,000 | 24,000 | 44,000 |
| Minera Steel And Power | 40,000 | – | 40,000 |
| Janki Corp Ltd | 28,000 | 9,000 | 37,000 |
| Mukand | 12,000 | 20,000 | 32,000 |
| Kalyani Steels | 4,000 | 24,000 | 28,000 |
| Others | 68,000 | 263,000 | 331,000 |
| Grand Total | 1,648,000 | 732,000 | 2,380,000 |
Qty in MT
Source: Karnataka DMG
Major highlights of Nov’17 Karnataka e-auctions:
- NMDC had increased base prices by up to INR 150/MT for Nov’17 e-auctions. For NMDC Donimalai mines base prices were- fines (Fe 60.2%) – INR 2,264/MT and lump (Fe 62.5%) – INR 2,630/MT. For NMDC Kumaraswamy mines prices were- fines (Fe 63%) – INR 2,608/MT and lump (Fe 64%) – INR 2,813/MT.
- Gujarat based steel maker – Electrotherm again participated in E-auction in Nov’17 and purchased 4,000 MT Fe 65% grade lumps at INR 3,080/MT.
- Vedanta Ltd.(including Sesa Sterlite) has became the 2nd largest iron ore supplier after NMDC.It was supplied 0.50 MnT and out of this 0.42 MnT supplied to JSW and 0.06 MnT to the rest to others.
Leave a Reply